US Dollar Grinds at Key Support Ahead of Non-Farm Payrolls (NFP)

Gold Silver Reports (GSR) – The US Dollar continues to battle with the 95.00 level, and this most recent test comes with a bit of heightened interest: Last week saw sellers drive below the level only to be followed by buyers pushing off of the August lows into month-end. This came along with a resistance reaction at a big area in EUR/USD. Yesterday saw resistance in USD/DXY at the June and July highs around 95.53, and this adds further questions to the sustainability of US Dollar strength as we move towards the end of Q3.                    

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DXY at Support, EUR/USD at Resistance

DXY at bottom of coil

While the Euro tests resistance, low and behold, the DXY tests support:

✅ Higher time frame musings

✅ Higher time frame, horizontal resistance zone holding

✅ Price now looking to break out of triangle to the downside.    

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